UPON THE COURT NOTING THAT Tethyan is the Award creditor in respect of an ICSID Award dated 12 July 2019 (the "Award").
UPON THE COURT READING the "DECISION ON STAY OF ENFORCEMENT OF THE AWARD" dated 17 September 2020 (exhibited to Mr Weigel’s First Affidavit) of the ad hoc Committee appointed within ICSID to determine Pakistan's application to annul the Award (the "Committee").
UPON THE COURT READING the "DECISION PARTIALLY TERMINATING THE STAY OF ENFORCEMENT OF THE AWARD" dated 30 October 2020 of the Committee lifting the stay of enforcement as to 50% of the Award, including interest accrued as of 30 October 2020.
a. Registered in the Court, effective forthwith upon the making of this order, recognized and Tethyan is given permission to enforce the Award pursuant to section 1(2) of the United Kingdom’s Arbitration (International Investment Disputes) Act 1966 (the "1966 Act"), as extended to the BVI and amended by the United Kingdom's Arbitration (International Investment Disputes) Act 1966 (Application to Colonies etc.) Order 1967 (SI 1967/159) (the "1967Order"), and
b. Alternatively, subject to paragraph 6 below, the Award is recognized and Tethyan is granted leave of the Court to enforce the Award in the same manner as a judgment or order of the Court that has the same effect pursuant to sections 81 and 82 of the Arbitration Act, 2013 (as amended) (the "2013 Act").
a. US$ 4,087,000,000 plus pre-Award interest from 15 November 2011 to the date of the Award and post-Award interest until the date of payment, both at the rate of 1% above the US Prime Rate, to be compounded annually.
b. Costs of the arbitration in the sum of US$2,533,277.08 plus post-Award interest at the rate of 1% above the US Prime Rate, to be compounded annually from the date of the Award until the date of payment.
c. Legal fees and disbursements of the Claimant in the sum of US$ 59,447,596.60 plus post-Award interest at the rate of 1 % above the US Prime Rate, to be compounded annually from the date of the Award until the date of payment.
d. Tethyan’s reasonable costs of and incidental to registration.
a. US$ 4,087,000,000 plus pre-Award interest from 15 November 2011 to the date of the Award and post-Award interest until the date of payment, both at the rate of 1% above the US Prime Rate, to be compounded annually.
b. Costs of the arbitration in the sum of USS 2,533,277.08 plus post-Award interest at the rate of 1 % above the US Prime Rate, to be compounded annually from the date of the Award until the date of payment.
c. Legal fees and disbursements of the Claimant in the sum of US$ 59,447,596.60 plus post-Award interest at the rate of 1% above the US Prime Rate, to be compounded annually from the date of the Award until the date of payment.
a. In respect of Pakistan, by sending the document by registered mail or courier/delivery service in separate packages addressed to each "and all of the following persons at the following addresses, provided that delivery of a package to any one of the addresses (whether or not directly or personally to the person named below in connection with that address), which shall be deemed to constitute good service on Pakistan pursuant to CPR 7.8A(3):
i) Mr Reginald R Goeke of Mayer Brown LLP, 1999 K Street NW, Washington, DC 20006.
ii) Mr Ignacio L. Torterola of GST LLP, Watergate Building, 2600 Virginia Avenue, NW, Suite 205 Washington, D.C. 20037, U.S.A, Pakistan's counsel in the ICSID proceedings.
iii) Mr Quinn Smith and Mr. Diego Gosis of GST LLP, 1111 Brickell Ave., Suite 2715, Miami, FL 33131, U.S.A.
iv) Mr Ali Zahid Rahim of Axis Law Chambers, 5-S, Gulberg II, Lahore 54660.
v) Mr Usman Raza Jamil of URJ & Co #30, Saeed Anwar Block Gaddafi Stadium Lahore, Pakistan, Pakistan’s counsel in the ICSID proceedings.
vi) Mr Ahmad Irfan Aslam, Head of International Disputes Unit, Office of the Attorney General for Pakistan, Supreme Court Building, Constitution Avenue, Islamabad, Pakistan.
vii) Mr Makhdoom Shah Mahmood Qureshi, Head of the Ministry of Foreign Affairs of the Islamic Republic of Pakistan, Foreign Office Building, Constitution Avenue, G-5, Islamabad, ICT, Pakistan.
b. PIA Pakistan by sending the document by registered mail or courier/delivery service to the following person at the following address (whether or not directly or personally to the person named below in connection with that address), which shall be deemed to constitute good service on PIA Pakistan:
• Air Marshal Arshad Malik, CEO of PIA Pakistan, PIA Head Office, PIA Building, Old Terminal, Karachi, Sindh, Pakistan-75200.
(i) receipt by the courier of the courier packages (for courier/delivery service); and/or (ii) the date indicated on the postal service or courier slip (for registered post).
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